Jeannie Niles Real Estate Investment
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Market Watch: November 2006
Palm Springs Area
| Type | New Listings | Pendings | Listings/Sales Ratio |
|---|---|---|---|
| Single Family Homes | 996 | 269 | 3.7 to 1 |
| Condos | 439 | 91 | 4.8 to 1 |
| Multi-Family | 32 | 6 | 5.3 to 1 |
San Diego
| Type | New Listings | Pendings | New Listings/Sales Ratio |
|---|---|---|---|
| Downtown Condos | 144 | 51 | 2.8 to 1 |
San Diego is usually about six months ahead of the desert area market, which is demonstrated by the above. It appears the ratio of new inventory coming on the market is declining in San Diego, but in the desert is continuing to increase.
In my research, it does not appear there are substantial price reductions, mostly people are adjusting to not getting an inflated price over last year, and getting accustomed to longer market times.
In the current market, a property needs to be the best one available at the lowest price for comparable product.
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Seven properties went into escrow in October.
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For Coachella Valley
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Multi-family properties have been the hardest hit segment in the desert area for number of sales during the current real estate downturn.
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I am always frustrated how the media and other trade groups use statistical data to prove the point they want to make, thus I like to do my own statistical research.
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It can be very profitable purchasing bank owned properties in the current real estate market.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
